tv MONEY With Melissa Francis FOX Business June 26, 2014 2:00pm-3:01pm EDT
that out, adam, and that's a good thing. adam: i'm sorry we're out of time. i love the topic. we have to go to melissa francis. she is up next with "money," thai thank you very much. we like you have eye on both. gopro going, lists on nyse. we bring you latest on that story. forget the smart watch. we have another product getting all the buzz. find out why they want you to start wearing a cardboard box on your head. i'm not even kidding. another company jumping on $10 an hour bandwagon. not even ikea is immune to wage rage sweeping the nation. even when they say it is not, it is always about money. melissa: financials getting crushed forking the new york attorneyen's lawsuit against barclays. here is fox business's very on
charlie gasparino gas. he broke it yesterday on the show along with "wall street journal" simon constable. what is the latest, charlie. your phone rang yesterday. you broke the story on set. is it about to break again. >> power to prosper. melissa: it is locked. i like that. >> what is interesting we should show a stock chart of the firms, if you notice credit suisse, ubs, deutsche bank, should be up there, barclays they have all the biggest, i think credit suisse is the biggest dark pool. all the dark pools which are private exchanges run by, by companies, by you name it, anybody can start an exchange these days. they will all come under pressure by eric schneiderman. we'll have eric schneiderman on later today. melissa: right. >> one of the questions i will ask him you have a specific case against barclays. you say barclays is giving preferential treatment to certain investors high frequency
trading firms. melissa: while they were claiming to try to prevent this from happening. that is crazy. >> how many other firms did what barclays is doing? that is number one. number two. is barclays dark pool out of business? barclays is coming under a lost regulatory pressure. i would not be surprised if they start packing up to leave the u.s. >> look at the stock. getting absolutely hammered. as. melissa: charlie mentioned that attorney general eric schneiderman will be on with you and liz i believe later in the next hour. tom with, what do you think about this. >> "wall street journal" report the fact that you have a new doj prosecutor who will be going after banks, making european banks very, very nervous. i look at this, forgive me, how many of their customers are doing limit orders versus market orders? with market orders and like charlie says, all the companies can start their own exchanges now, you know they run it through their own exchange, and, the customers that do most business with them will get preferential treatment.
i look at this, i'm not sure why regulator will be in there. this is something customer has to deal with. >> i don't think they will anymore. this is a shot across the bow. mary jo white, sec chairwoman said this, she is very negative on dark pools. i'll tell you, brad, who was featured in "flash boys," who is creating, allegedly good dark pool, he will tell you there will be a lot less of them in the next year. they will go out of business. >> one they're going after u.s. banks. why aren't they? are they just completely innocent? >> maybe they found the best evidence here. i -- >> if you want a level playing field -- >> that is one thing i will ask him. melissa: we'll look forward to the interview. meantime the other thing moving the market, st. louis fed president james bullard speaks he can exclusively with fox business's maria bartiromo this morning, really moving markets. listen. >> we're still below 2% on pc inflation but we are moving up. my forecast actually mass us
moving through 2% and over 2% in 2015. you heard it here first. melissa: that's a big one. he is saying that this is the question, we've all been having about inflation. they deny it is here. it is not a big deal. he is saying no, we're moving up our targets. we're already seeing it. it means they're admitting it. if you saw notes going around trading desks afterwards, they were talking about his hawkish stance and how this is something -- go ahead. >> we're already seeing price inflation. i see it when i go to the grocery store. melissa: right. >> the government statistics haven't caught up and we're definitely seeing it and, and i want money on my savings. >> we had a negative gdp print in the first quarter. melissa: absolutely. >> the second quarter, you know, probably, when they revise that will probably be positive. but i'm saying, what is scary about this, you have, sort of inflation in specific areas, right? where you will have to raise interest rates on top of a slowing economy. what does that mean? melissa: glad you brought that up because he made a comment about gdp.
tom, i will let you react on the other side. let's listen to that, around i will go right to you. >> what did you think about the gdp report? 2.9% contraction? >> it is giving me heartburn. i think the market is right to shake this off. whatever was going on in the first quarter we can talk about it more. i think it is aberration. >> not aberration. what they're doing is manipulating health expense portion of the obamacare subsidy number. they will spread that out over the rest of the year and make connie better than is. they're manipulating numbers. i think it is borderline fraudulent what they're doing. if you follow the bond market, the bond market is waving the flag clearly, if the stock market is hitting new highs, the yields are hitting new lows. i take the bond market side. >> bond market is waving the white flag. melissa: stock market is going crazy. talk about extreme ipo. gopro making debut. investors are loving it. fox business's jo ling kent is at nasdaq with this one. investors going crazy for this one, jo. it is up like 30%.
>> yeah, melissa, you're absolutely right. first i want toll it you we're doing the entire live shot on a gopro camera. we're doing it all live. stock is up 30%. it really head throughout the day, based off of comments from ceo nick wood man. he is saying that the company is going to grow 20% in the next year. so, take a look, we're giving you a tour ever the nasdaq floor. a lot is going on. nick wood man, signed his name right here at the opening bell. you can still see it this. there is some confetti there. what is interesting about this company, they have a 45% market share on the camcorder industry according to their sec filing. so this is a company already dominates. a lot of investors wonder, can it actually hold this nice spike that we're seeing today. melissa: yeah. >> but nick, the ceo, very confident, melissa. these cameras that i'm using right now, our team is using can actually continue to innovate. melissa: jo, thank you so much. you contrast that.
i think we have video of this. i want to show you when they were doing the ipo and she was talking about nick wood man the ceo. and blowing a kiss into the camera. i'm like, i mean he is, think, could end up regretting this move later. because this is really, what a sign of the euphoria against a backdrop of the negative gdp print, of the inflation that we're talking about. contrast what bullard is saying to what is going on here. that makes me nervous. >> we know the alibaba ipo was coming soon. we'll talk about that. melissa: next. >> what the street is doing is pushing out every last bit of garbage before this thing blows. >> below where it should be. the whole point of ipo is to get money to invest in the business. basically, that much of a pop on opening day is a wrong. >> just say flip. remember flip? that was cool camera. this is the cool camera. this is fad. it will last a couple years. melissa: speaking of hot ipos, charlie just mentioned it,
alibaba will list its much anticipated ipo on the new york stock exchange. >> not a big surprise there. we kind of knew it. we knew it was coming down. we got wind of it last night the decision was starting to come down. melissa: what a blow on the day the nasdaq is out there and celebrating gopro. they have all the media. everyone is really excited, boom, this news breaks that alibaba goes to the nyse. it hurts. >> if anybody was prepared for this thing to go to the nyse, it was bob greifeld at nasdaq. there is no doubt about this. melissa: yeah. >> this is where sort of the real story is. jeff sprecher, head of new york stock exchange, bought the new york stock exchange as, when he was head of ice. what does he do with the new york stock exchange in a couple years? i will say this. i speak to a lot of people that know sprecher. everyone says he will somehow get rid of the new york stock exchange in the next year. he doesn't like the listings business. what he likes is the derivatives and futures business. and this is a guy that does not like floor traders and the show. he wants to do something else. and look for it. what is interesting here, is that you could see the nasdaq
being a natural buyer. not now. but at some point. take act of congress too. different administration. different doj but it could happen. melissa: simon? >> i will be very interesting. getting anything through congress now will be very -- >> not now. >> my thing about alibaba going back to them, i'm not so excited about them but i think what the pressure is going to be obviously on ebay and amazon. that, sr. we this give them competition like they have never had before you. >> think they might switch to, is that what you're talking about? >> no, not about exchanges, just the business itself. melissa: let's do a fun one. do you binge view? do you binge watch stuff? new study by tivo revealing most binge watched shows of the season. the survey says, emmy winning, "breaking bad" at the top of the list. they define binge watching three episodes in rapid succession. that is a snack. that is like intermezzo. that is nothing. >> that is startup. melissa: you don't binge watch? you don't care.
charlie doesn't care. you mean fox business. >> i haven't seen "breaking bad." i heard about it. >> binge watch "breaking bad." i think i did watch. last thing i binge watched. melissa: "house of cards?" you don't watch "house of cards." >> i'm so uncool melissa. >> i don't watch it either. melissa: you're all staring at me like i'm crazy. thanks to all of you. >> get rid of them. melissa: money mistake you're making right now and how to fix them. our pros are here to help you tune-up your portfolio. u.s. losing to germany, sorry if i spoiled it for you. if you have it on tivo i wrecked it for you. ed world cup fever will go on though. more "money" coming up. ♪. ♪
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rich edson is live in the nation's capitol. how are they feeling about it now. >> they were loving it, melissa. this place was jammed. they are still emptying out. the united states lost 1-0, but yes, we do get to survive n this game nobody got bit we're told. i'm not sure if that stood for the crowd. really exciting match for everyone involved in the middle. day. beginning of this, the oddsmakerses said we had 35% of advancing to the next round and group of death because it was so difficult. the u.s. does emerge with a victory over ghana, a tie against portugal. what we had here with germany. the german embassy put this event on. they were expecting 2 to 3,000 people here today. it is pretty confined space here. they did pack this place at noon on a weekday. and, this will continue now as the united states next week begins its move forward in the world cup. this is, a first-time in history, according to statistics
we've seen that the united states has gotten out of the group round in consecutive years. they did so in 2010. they do so here in 2014. soccer fever, very much alive in washington, d.c. talking to people around here, as to how interested they are in soccer. some say world cup thing for me. others say they really love the sport and watch an awful lot. it depends. melissa: i know. the whole we lose we're still in it, round-robin thing. america learns how to do math in this fashion i guess. i want to go to garrett tenney, standing by in chicago as well. garrett, are the fans taking it as well because we're still alive? was there a lost disappointment? rich makes it sound like nobody was disappointed? >> well, no, these fans are certainly not disappointed. [cheers and applause] you can hear it. we still won and going on. soccer fever is catching on here and across the country for the first world cup match.
there was 10,000 people that showed up. on sunday there was 20,000. today, during a work day, middle of the day, more than 20,000 people showed up for this soccer match. red, white and blue all over the crowd. you got the hats, the flags, and america's most viral soccer fan. franklin roosevelt. his sign was all over the place. melissa: we lost! >> back to you. melissa: i think they're all drunk. we lost. they're all screaming. guys, thank you so much. thanks to both of you. have a good time. all right. talk about something coming back to bite you. uruguay's luis suarez was suspended nine games and banned from any soccer related activity for four months following the now infamous biting incident. the athlete was fined about $112,000. i guest the taste of victory isn't that sweet aft all. some of fans, come on they
exaggerated the aggression. shares of elizabeth arden sinking today as acquisition deal to buy the cosmetic company falls through. go to nicole petallides on floor of the new york stock exchange with more. back to business now that soccer is over for the day. >> all traders back to business. i think they were multitasking. look at elizabeth arden, melissa. the stock is down 18%. recently it shot up 30% on heels of rumors that you may have seen south korea yeah's health f to make a purchase much elizabeth arden. elizabeth arden back in april they announced they were looking at extensive restructuring and the like. turns out the south korean company is basically saying no. they are not interested. at this point they are going to pursue other opportunities that would offer better value. that is terrible. and so meantime, elizabeth arden's stock is down 18%. i said it jumped up 30% on heels of this one. it is down 18% today. it is down 40% this year.
not even the celebrity fragrances of taylor swift and justin bieber could lure in the big company there in south korea. right now the stock right now sitting at 22.09. back to you. melissa: wow, getting absolutely hammered. nicole, thanks so much. it is all fun and games until you upset a dictator. a new movie has kim jong-un swearing retaliation. plus the doctor will see you now. the ney new way your physician is also obama watching over you. i -- is also watching over you. i promise it is not creepy at all. well, do you ever have too much money? ♪.
melissa: from the u.s. to every corner of the globe money is flying around the world, today starting in ghana. where officials have been busy bundling up wad of cash and loading it on to a plane bound for brazile. the tiny nation's world cup players got into an argument with the country's president and threatened to stop playing if they didn't receive long overdue bonuses. that was more than enough incentive and the government was quick to cough up around $130,000 per player. very cheeky, i like that. over to north korea, where cranky despot kim jong-un is going red in the face over a new hollywood movie. comedy duo, james franco and seth rogan, they're making a film all about assassinating him. the chinese president is not amused at all. he declared it an act of war. north korea warned of stern retaliation in the movie is not blocked in the u.s. yikes. shoopers at bargain clothing store are finding secret
messages from factories halfway around the world. the store which is planning a launch in the store in the u.s. they discovered tiny messages, speaking of quote, degrading sweatshop conditions. another reveal how the worker is exhausted from hours of sewing. yikes!. if you're in the market for a mumu or a pint of ice cream, paper trail for guilty pleasure could have a angry call from your doctor. hospitals are monitor patients spending in the name of keeping them he think. dr. manny alvarez, fox news medical a-team joins me now. this is going beyond the pale. pennsylvania and north carolina, they're collecting big data. >> this is no different than marketing companies. hospitals may eventually use it but now these are marketing companies or health care systems that are interested in mining information from your shopping habits, from what you eat, places that you go. melissa: at that time he willing
to your doctor? >> right. put that in your portfolio. and then, utilize that prevent you from gaining weight. melissa: to charge you higher insurance rates what they are using it for. >> this is most unethical and cheesy use, this is consequences of government spying on everything we do. this is the consequences of socialized medicine. this is consequences what people have to wake up and smell the coffee because you're being drowned and being spied upon. that's bad. melissa: so you're a doctor you're saying if they call and tell you about your patients, they say this is for your own benefit. >> i see the liberal, manny, look how fat you are and don't take care of yourself. what i say to you, that's okay. that is my problem. the bottom line is, we can not spy on people in this country in order to create a pseudo portfolio that that is going to make them healthier. that is a lie. that is to raise insurance rates and to charge you more for this. melissa: right. >> and to charge you more for that. let me tell you under obamacare right now, a hospital will get
dinged if you get readmitted for any reason or if the outcomes were not what they wanted them to be, which is created by a bureaucrat in washington, d.c. so now, doctors and hospitals are saying, wait a minute. we got to make everybody healthy. we can't take a sick patient into this hospital because god forbid they are sick. we're going to get dingedwe're . hospitals run into huge deficits. the government says we won't pay you if you don't make everybody live to be 100 years old. be careful. that is why companies are going into the business of spying on people. melissa: tell us what you really think, doctor. >> i'm telling you. this is really upsetting to me. melissa: tell me you about something a little less upsetting. >> okay. melissa: a new study found 3d mammograms better likely to result in less false positives on mammograms. >> this that is great for specificking up very small canners, because digitalizes the
picture in such a way a doctor can pick up one millimeter tumors embedded in tissues. something you did not see before in 2d you see now in 3d. less false-positive results. better pickup rate on cancers really deadly, 41%. good stuff. between 2d, ultrasound and 3d. woman have good choices. have a conversation with your doctor. depends on family history around how dense your breasts are. melissa: fda sounding alarm over the counter acne medications claiming they can cause severe allergic reactions. names on this list, proactive, one you see on television every day, neutral gina, ogy, ben said peroxide? >> a lot of these things have salitic acid which is aspirin. many are allergic to aspirin. if you use it you can inadvertently relate to create a
reaction of the once in a while you get a reaction. don't look at color of the tube. look at ingredients of medications you take over-the-counter. that is big ticket item. sometimes you have allergies and a lot of these things can create allergic reaction. melissa: you're very fiery today. >> i am. i am. this whole spying thing got me worked up. melissa: apparently. speaking of spying, google unveils a new product, cardboard, literally. wait until you see this one. hey, watch out, yo. competition is on the rise for the app everyone is talking about. we'll tell you which apps might be next. "piles of money" coming up. ♪.
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melissa: so google may appoint the model don't be evil but they are not following their own credo. the newest fleet of innovations compton excitement and uncertainty from the masses forcing very page to confront some tough questions about google's expanding reach. here now, todd haselto hazeltond profitable trading.com jared lady. this is "the new york times" talking to larry page of the idea not everybody necessarily wants all of their stuff to be connected together. your time asks are you at the risk of becoming a treaty? larry page said the early days of street view was an issue. not so much now. it is very usable. he is saying everybody will get over it. do you believe that? >> in some instances, yes. you look at google fit, the platform google announced.
melissa: they announced they are going more into health care, collecting more data, and you are always afraid. >> they are pulling all of this data, larry page says we can save 100,000 lives by gathering this data and we can do it anonymously. >> we can save a hundred thousand lives by getting people out of the house. it is creepy. i think google view still creeps me out. it is creepy. melissa: jarod, what do you think? >> totally not creepy. it is brilliant. do you want 1000 remote controls in your house which mark google is bringing our world together. it is genius because they are standardizing all of the smart tvs, putting android in a tv, for the tv maker and for google. melissa: they are getting a reputation for getting creepy.
once you have that, it is a little hard to shake, right, todd? >> yes, it is hard to shake. we are going into the car, on the tv, it is a smart next step. we see the i making the next step. melissa: this is a low-tech rollout for the developers conference. google pulling out the stops gifting attendees with a piece of cardboard. it sounds underwhelming until you realize it can be turned into a virtual reality headset, you can actually make it on your own. finally, it is even more nerdy then google glaspie had this is just a cheap gift? >> how cool is this. your kids are going to die when they see this because it brings digital and analog thing together and also it is almost as big as facebook. you paid $2 billion for oculus,
google gives you a piece of cardboard, you can use it. it is very cool. making people realize we can use our hands and the things around us. >> i like that, cut from cardboard out. use something. melissa: make your own technology. definitely a stab at facebook. it has its angelo backfiring. you can make it with cardboard, they spent billions of dollars, but at the same time, your answer is cardboard? so i don't know. >> i think it might disintegrate outside. >> here is everything we have, oh, cardboard. melissa: oh, hey, move over yo. it is unlikely competitors in that it has options. while max, i don't even know what to say to this one. jared, hey.
>> stupid cells. the thing you have to remember is it is all about viral marketing. as we are laughing at the person who paid a million dollars, injecting a million dollars into the stupid companies, but when you have $6 million with banne banners, they are going to pay for it. it is stupid, but it works. melissa: my suggestion is to stop. it would work for me as well. what have you got? >> i want whatsapp from budweiser. >> it is going to be cheers. melissa: i like that one. yours is my favorite, go ahead and reveal it. >> no. nope, never, never going to happen. it is genius. melissa: you guys are fantastic, thank you so much.
stop shelling the chevy cruze from this year unless you because of a potential defect in the airbag. 33,000 vehicles made with faulty parts. gm says recalls are unlikely to continue. and it is looking grim for the marlborough man. phillip morris cut before your outlook after closing down operations in the netherlands and australia. the ceo says 2014 is proving to be a complex year due to challenges overseas be at americans are still using their money cautiously despite better income growth, figures on personal spending came in climbing two tenths of a percent. that is the latest from the fox business network giving you the power to prosper.
are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter. melissa: we are off the lows of the session still trading lower. down two tenths of a percent. same at the s&p and the nasdaq as well. tech industrials, consumer staples and financials leading a slower today. what are the dumbest mistakes people are making when it comes to their portfolios, and how do you fix them? keith, i want to start with you, you say investors have the wrong
attitude right now, why is that? >> it is a part of the culture quite frankly how we are driven by what we read in the news and see on tv, but they should be goal focused, they are not, they are more market focus and leave it to the market traders. that is what people are setting up their portfolios to take care of something later in life. you have to be goal-focused and outcome-driven and then you won't be susceptible to stock tips that will get you i into crazy situations that will turn out to be losers. melissa: you say something similar. past performance doesn't predict future performance. what do you mean by that? >> it typically doesn't. good academics, they also just all the data, 3% of managers over the years will be able to
match or beat a passive index portfolio. it rarely ever works, especially not just being wrong, the slippage of conditions, et cetera. melissa: somebody wants to follow how that goes, what would they do. >> i just don't have a tiny take care of the regulatory restrictions, tax loss, you name it. the first thing to do is find a very good financial advisor, professionals in the business, and is paid primarily by the asset management company you put into to keep track of your investment and portfolio operability.
melissa: if you do that, don't you end up paying huge fees and you waste whatever money you are making anyway hashtag >? >> i would go to the resident advisor. they are not making money on the stock for the mutual funds, just selling you. it is laden with etf and passive index funds that don't have the turnover, the mutual funds woulk at it and paying the 1% is cheap in the long run. melissa: what if i told you there is a way to take the pictures off of your social media? we have a company that has the answer to your social media disasters.
tom mcgrath. how did you come up with this idea, did you have a bad experience or somebody in your family? >> no, it was kind of a problem i wanted to solve for a lot of my friends and myself. we all have our crazy party pictures from back in school, and i just heard from a lot of people, families, friends, this was something recruiters were working at. 91% of recruiters are screening your social media. melissa: without question. it seems everybody is doing it now. it is the smart thing to do. what does it cost and what exactly do you do? >> right now it is completely free. melissa: how do you make money then? >> we are going to be moving to a freemium model. we will have a gift. if your son or daughter who want to give the service as a college graduation present, that is
something as well. melissa: how does it work? facebook and twitter, or instagram and tumbler or what? >> facebook and twitter, you login, we are flagging keywords for profanity, anything alcohol or drug related and looking for objects that would be indicative of a party or something like that. solo cup, beer cups, beer cans, that kind of a thing. melissa: there are other companies popping up every day. others are helping hr go through and find the real information. so how do you hide it and make sure it is gone for good? >> we give you the power to take action. once the flight the information, height it on facebook, report it, you can delete it. they have the functionality within the api to delete it from your feet. melissa: thank you so much,
appreciate your time. >> no problem. melissa: let's take a look at what liz claman is up to next on the closing bell. liz: thank you so much. we have ceos, we have is this leaders. this is the aluminum company, alcoa, they made a big acquisition and he is here sitting on set talking about aluminum, aerospace, and what it will do in the auto world. the stock is jumping pretty dramatically, 2.5%. alcoa, it is tough to move that stock. and the outlook for aluminum prices coming up. charlie gasparino saying watch out, 4:00 p.m. eastern you will find a lawsuit filed by the new york attorney general. new york attorney general eric snyderman charged defeat and all kind of issues regarding the so-called high-frequency trading. we've got them in the studio,
test on fox business, eric snyderman. charlie and i will double-team that interview. and solar we told you when we talked about solar city not to count him out. the stock is jumping once again, they are such an interesting business model not only do they lease, they install and are manufacturing solar panels. a fox news exclusive. and the stock is up about 100% over the past year be at melissa: can't wait. here is what is making and losing money today. anybody with a piece of bed, bath, and beyond, shares are thinking right now after an earnings outlook below expectations. the prophet flatlinin flatlining year-over-year basis, the stock getting soaked right now. over 3 million shares, he lost around $13.5 million today. not making as much,
hillary clinton, sales of her memoir dropped sharply in the second week dropping nearly 44%. it will fall short of the 1 million copies the publishers hoping to ship to stores. making money off your old kfc food scraps. the company turning out these chicken wing bones. they cleaned up, coated in copper and pleaded in 14 karat gold for whoever wants to buy one. not me. all right. fly in style, look at how the world's airlines are finally stepping up their business-class game, flatbed blankets and falcon included. you can never have too much money.
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melissa: time for little fun with "spare change." the sky's the limit for business-class. upgrading features provided in the category. joining me now, cultural commentator. thank you so much for joining us. this is a sign of the times, first class isn't enough. they have to make it phenomenal. first class is a personalized cabin to entice every traveler. >> i would want my own bathroom. that is the only thing that makes first class worth spending that kind of money, but business-class, which is in between cost closer to coach than it does first class, but sounds almost better than first
class. melissa: yeah? business-class big upgrade on several lines like jetblue. >> it is a whole plane that is just business-class. it will be a french airline that will go from paris to newark. i would like to go to paris, but newark? melissa: we are in the tri-state area. >> it is a great airport, that was just a joke. melissa: okay. so it is all business-class airlines, all business-class seats going from paris to newark. my favorite was letting passengers fly with their falcon because nothing i hate more than making my falcon sit in coach. >> and it is like sophie's choice. which do i bring on my trip. you can bring to go. if he wants to bring more than two, they can also get tickets.
melissa: is there real demand for this? it sounds like a joke. >> i went on the website to look at what they offer, they didn't show people with pet falcons, but they showed a cabin with doors, it is a lot of privacy. even what you do with your falcon. melissa: the holy trai grail ses like two things, one is the very flat feet. also, the move to try to have private space. >> i think that is exactly right. i studied all the website that the airlines including some that were not in the article that we both read, it does seem to be the ability to go flat, so basically 6'5" inches long, and it flattens all the way. if you want to know if you are on a good business-class plan, you will get a pillow as well. melissa: thank you so much.
ikea is willing to build the workforce. making a big move into the wage debate. at the end of the day it is all about your hourly wage. ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪
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♪ ♪ melissa: ikea making a move into the wage wars, vowing to raise minimum employee wage to $10.76 by 2015. simon constable is back with me. every day there's a new one, you aerofrom a company saying we're going to do this. they either want to do it before they're forced and then they get the nice pr bounce -- >> and it is nice. melissa: it is nice. do it fist -- first and get the best workers, or they think they can stop the federal mandate. if enough of them do it, it takes the pressure off. which of those is right? >> i think they're all right, but i hope they're trying to
stop the federal mandate. this is an enormous country and very diverse. melissa: it is big. >> how is new york city wages? how does that relate this any way the wages at an ikea in rural west virginia? if there even is one? melissa: right. >> it just doesn't make any sense. why would you set -- melissa: well, i think they're saying you set a higher base, and in places like new york you have to pay even that much more than that. >> the cost of living here and the demand of labor here is completely different from other places. i do think companies should go out there ask want to get the best people. i think it's a good idea -- melissa: that could be one reason why they're doing it. i think probably the pr ahead of being forced to do it. could they stop it though? i wonder if enough of them get out and do it, mcdonald's, gap did it and they got all these folks coming in and applying, and now ikea's doing it. >> i hope the government just says, hey, look, what are we going to do now? we're actually going to be hurting companies that couldn't do it because everyone who could has already done it. mel simon, you're fabulous.
thank you for coming on. that is all we have for you right now. i hope you're making money. the market right now down 31, and "countdown" starts right now. ♪ ♪ liz: just four points -- >> usa! usa! liz: no, we're not talking world cup. four points is all the s&p needs to reach a new record high close. but will it get there today? welcome to ceo central. it's all about innovation and expansion, and we've got you covered. shares of solar city, the company backed by tesla founder elon musk, up some 85% year-over-year. solar city cofounder and ceo here in a fox business exclusive. alcoa, the largest u.s. aluminum producer, doubling down on aerospace buying parts maker rickson. alcoa chairman and ceo klaus cry fed with us live on how he's